Starbucks Aims to Increase Diversity and Representation

As part of a campaign to increase diversity spending, Starbucks is opening its supply chains to an additional $700 billion in spending on diverse suppliers. The target date to hit the additional funds is 2030, and is almost double its existing spending that stems from diverse suppliers. The big news for media companies is Starbucks is committing to allocating 15% of the budget to minority-owned and targeted media companies. This is part of broader market decisions, as Yum Brands and McDonald’s are also committing to spending more on diverse suppliers in the upcoming years. This plan will hopefully alleviate global supply chain issues for Starbucks which has been a struggle throughout the pandemic.